TSX:TML
TORONTO,
May 1, 2013 /CNW/ - Treasury Metals
Inc. (TSX:TML) is pleased to announce that, further to its news
release dated April 26, 2013, it has
completed the final tranche of a non-brokered private placement
(the "Offering"). Including the first tranche, the Offering
consisted of 2,638,332 units (the "Units") of the Company at a
price of $0.45 per Unit and 1,194,444
flow-through Shares (the "Flow-Through Shares") at a price of
$0.50 per Flow-Through Share, for
total aggregate gross proceeds of $1.78
million.
Each Unit consists of one common share in the
Company and one half of one common share purchase warrant of the
Company exercisable for a period of 36 months from the closing
date. Each whole warrant shall be exercisable into one common share
of the Company at $0.75 per
share.
The Units and Flow-Through Shares will be
subject to a four-month hold period under applicable securities
laws in Canada.
The net proceeds raised through the Offering
will be for the advancement of the Company's Goliath Gold Project
including completion of an Environmental Impact Statement and for
general working capital purposes. The Offering was primarily sold
to investors in Canada and
Europe.
The Company paid a finder's fee of 7% cash
commission to certain parties with respect to service provided in
connection with the Offering.
A material change report in connection with the
private placement will be filed less than 21 days before the
closing of the private placement. This shorter period is reasonable
and necessary in the circumstances as the Company wished to
complete the private placement in a timely manner.
To learn more about Treasury Metals, please
visit the Company's website at www.treasurymetals.com.
Forward Looking Statements
This press release contains forward-looking statements such as
the expected use of the net proceeds from the private placement,
our future financial condition, business plans and objectives,
results of operations and business. Such statements are based on
operations, estimates, forecasts and projections. They are not
guarantees of future performance or events and involve risks and
uncertainties that are difficult to predict and may be beyond
Treasury Metals' control. A number of important factors could cause
actual outcomes and results to differ materially from those
expressed in forward-looking statements, including those set forth
herein and in other public filings. In addition, such statements
relate to the date on which they are made. Consequently, undue
reliance should not be placed on such forward-looking statements.
Treasury Metals disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
SOURCE Treasury Metals Inc.